Law School Discussion

Nine Years of Discussion
;

Author Topic: should I consolidate my loans?  (Read 771 times)

Steve Butabi

  • Sr. Citizen
  • ****
  • Posts: 781
  • and I was like "EMILIOOOO!"
    • View Profile
should I consolidate my loans?
« on: November 17, 2005, 02:57:14 PM »
I have about 9000 from undergrad, got a phone call from student direct or something, they want me to consolidate my loans, supposedley ensuring a locked low interest rate. whould I do this? what does you guys know about dis?
pm me if you're a hottie and you want to make out or whatever

AH

  • LSD Obsessed
  • *****
  • Posts: 5547
  • but you're a hippo!
    • View Profile
    • LSN
    • Email
Re: should I consolidate my loans?
« Reply #1 on: December 17, 2005, 01:58:09 AM »
If oyu cnsolidate now, then all future loans ill be left out (so you'll have to consolidate again after law school).  Plus, they only consolidate government loans, private loans aren't.  So, if you consolidate now, you'd end up sending in at least 2 loan payments a month (plus provate loans).  Just something to think about (why I'm not consolidating now).
Quote from: Stanley James Watson III
I <3 AH.
the official gettin' busy poster of the OPC!
Official Realistic Numbers Holder of the Revolution
Quote from: Groundhog
honorary fellow LSD rodent.
www.lawschoolnumbers.com/display.php?user=arhodg

xindogu

  • Sr. Citizen
  • ****
  • Posts: 487
    • View Profile
Re: should I consolidate my loans?
« Reply #2 on: December 17, 2005, 12:22:49 PM »
I also have federal loans. If I return to school, do the payments get put on hold? Or do you have to keep making the payments for the undergrad loan while you are in law school?
Applied: Michigan
Accepted: Michigan
Attending: Michigan

AH

  • LSD Obsessed
  • *****
  • Posts: 5547
  • but you're a hippo!
    • View Profile
    • LSN
    • Email
Re: should I consolidate my loans?
« Reply #3 on: December 17, 2005, 02:39:22 PM »
Federal loans (stafford) don't have to be paid while in school, but you need to make sure you contact your finaid office and lender to get the proper procdure notifying them you're in school.  However, depending on the type of stafford loan, it will or will not accrue interest.
Quote from: Stanley James Watson III
I <3 AH.
the official gettin' busy poster of the OPC!
Official Realistic Numbers Holder of the Revolution
Quote from: Groundhog
honorary fellow LSD rodent.
www.lawschoolnumbers.com/display.php?user=arhodg

xindogu

  • Sr. Citizen
  • ****
  • Posts: 487
    • View Profile
Re: should I consolidate my loans?
« Reply #4 on: December 17, 2005, 10:50:59 PM »
Thanks for the advice, arhodg.
Applied: Michigan
Accepted: Michigan
Attending: Michigan

AH

  • LSD Obsessed
  • *****
  • Posts: 5547
  • but you're a hippo!
    • View Profile
    • LSN
    • Email
Re: should I consolidate my loans?
« Reply #5 on: December 18, 2005, 12:26:32 AM »
NP.  Financial matters are always really complex.  I hate that studens loans are an area where I have enough first hand experience to provide some insight. :-\
Quote from: Stanley James Watson III
I <3 AH.
the official gettin' busy poster of the OPC!
Official Realistic Numbers Holder of the Revolution
Quote from: Groundhog
honorary fellow LSD rodent.
www.lawschoolnumbers.com/display.php?user=arhodg